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Unaudited Financial Statements |
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for the Period 1 May 2020 to 31 January 2021 |
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for |
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Williams & Rose Developments Limited |
REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period 1 May 2020 to 31 January 2021 |
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for |
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Williams & Rose Developments Limited |
Williams & Rose Developments Limited (Registered number: 08016873) |
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Contents of the Financial Statements |
for the Period 1 May 2020 to 31 January 2021 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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Williams & Rose Developments Limited |
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Company Information |
for the Period 1 May 2020 to 31 January 2021 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Marlborough |
Hillcrest |
Helston |
Cornwall |
TR13 8UN |
Chartered Accountants' Report to the Director |
on the Unaudited Financial Statements of |
Williams & Rose Developments Limited |
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The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Williams & Rose Developments Limited for the period ended 31 January 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us. |
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As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance. |
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This report is made solely to the director of Williams & Rose Developments Limited in accordance with the terms of our engagement letter dated 18 June 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Williams & Rose Developments Limited and state those matters that we have agreed to state to the director of Williams & Rose Developments Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Williams & Rose Developments Limited and its director for our work or for this report. |
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It is your duty to ensure that Williams & Rose Developments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Williams & Rose Developments Limited. You consider that Williams & Rose Developments Limited is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of Williams & Rose Developments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Marlborough |
Hillcrest |
Helston |
Cornwall |
TR13 8UN |
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Williams & Rose Developments Limited (Registered number: 08016873) |
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Balance Sheet |
31 January 2021 |
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31.1.21 | 30.4.20 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 5 |
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Tangible assets | 6 |
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CURRENT ASSETS |
Stocks |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS/(LIABILITIES) |
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( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
9 |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS/(LIABILITIES) |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
Williams & Rose Developments Limited (Registered number: 08016873) |
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Balance Sheet - continued |
31 January 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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Williams & Rose Developments Limited (Registered number: 08016873) |
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Notes to the Financial Statements |
for the Period 1 May 2020 to 31 January 2021 |
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1. | STATUTORY INFORMATION |
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Williams & Rose Developments Limited is a
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The presentation currency of the financial statements is the Pound Sterling (£). |
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These accounts relate to the 9 month period 1 May 2020 to the 31 January 2021. The year-end was shortened to enable better planning. The comparatives relate to the year to 30 April 2020. The comparatives are therefore not entirely comparable. |
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2. | STATEMENT OF COMPLIANCE |
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3. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
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Goodwill |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
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Current or deferred taxation assets and liabilities are not discounted. |
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Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
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Williams & Rose Developments Limited (Registered number: 08016873) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 January 2021 |
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3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
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Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
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Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
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4. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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5. | INTANGIBLE FIXED ASSETS |
Goodwill |
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COST |
At 1 May 2020 |
and 31 January 2021 |
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AMORTISATION |
At 1 May 2020 |
and 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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At 30 April 2020 |
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6. | TANGIBLE FIXED ASSETS |
Plant and | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 May 2020 |
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Additions |
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At 31 January 2021 |
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DEPRECIATION |
At 1 May 2020 |
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Charge for period |
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At 31 January 2021 |
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NET BOOK VALUE |
At 31 January 2021 |
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At 30 April 2020 |
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Williams & Rose Developments Limited (Registered number: 08016873) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 January 2021 |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 30.4.20 |
£ | £ |
Trade debtors |
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Amounts recoverable on contract |
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Other debtors |
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Directors' current accounts | 33,505 | 8,330 |
VAT |
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Prepayments |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.1.21 | 30.4.20 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Tax |
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Social security and other taxes |
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Wages | 3,557 | 3,170 |
Subcontractor payments | 1,250 | - |
Credit card | - | 4,330 |
Pension | 169 | 125 |
Accrued expenses |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
31.1.21 | 30.4.20 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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Bank loans more 5 yr by instal |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 24,537 | - |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.1.21 | 30.4.20 |
value: | £ | £ |
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Ordinary | 1 | 100 | 100 |
Williams & Rose Developments Limited (Registered number: 08016873) |
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Notes to the Financial Statements - continued |
for the Period 1 May 2020 to 31 January 2021 |
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11. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the period ended 31 January 2021 and the year ended 30 April 2020: |
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31.1.21 | 30.4.20 |
£ | £ |
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Balance outstanding at start of period |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period |
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During the year the company gave the director money and he paid for business items personally. Interest is charged on the loan, when it exceeds £10,000, at the market rate of interest. The loan is repayable on demand. No amounts have been written off or waived in respect of the loan. |
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12. | ULTIMATE CONTROLLING PARTY |
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The controlling party is Mr S P Williams. |
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13. | COVID-19 |
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Prior to the previous company year-end the world pandemic COVID-19 was declared. This has impacted the company's ability to trade and the company had to temporarily close. The company has since re-opened with COVID safety measures in place. |
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14. | DIVIDENDS |
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At the previous year-end more dividends were declared than retained profits. At the time the dividends were declared there were enough retained profits for the dividends to be properly declared. As expected the position has since reversed. |